XML 40 R29.htm IDEA: XBRL DOCUMENT v3.23.3

Fair Value Measurements (Tables)

3 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Schedule of Carrying Value and Estimated Fair Value of Long-term Debt

The carrying values and estimated fair values of long-term debt with fixed interest rates (excluding the fair value of designated receive-fixed/pay-variable interest rate swaps) were as follows:

						September 30, 2023												June 30, 2023
						Carrying Value						Fair Value						Carrying Value						Fair Value
($ in millions)												(Level 2)												(Level 2)
Total long-term debt with fixed interest rates (excluding commercial paper (1) and finance leases)						$	4,098					$	3,780					$	4,123					$	3,844

(1) As of September 30, 2023, and June 30, 2023, the Company has entered into interest rate swap contracts for a total notional amount of commercial paper equal to $1.2 billion. These contracts are considered to be economic hedges and the related $1.2 billion notional amount of commercial paper is also excluded from the total long-term debt with fixed interest rates.

Schedule of Fair Value of Instruments Measured on Recurring Basis

The following table summarizes the fair value of these instruments, which are measured at fair value on a recurring basis, by level, within the fair value hierarchy:

						September 30, 2023
($ in millions)						Level 1						Level 2						Level 3						Total
Assets
Commodity contracts						$	—					$	1					$	—					$	1
Forward exchange contracts						—						2						—						2
Interest rate swaps						—						13						—						13
Total assets measured at fair value						$	—					$	16					$	—					$	16
Liabilities
Contingent purchase consideration liabilities						$	—					$	—					$	45					$	45
Commodity contracts						—						1						—						1
Forward exchange contracts						—						5						—						5
Interest rate swaps						—						107						—						107
Total liabilities measured at fair value						$	—					$	113					$	45					$	158

						June 30, 2023
($ in millions)						Level 1						Level 2						Level 3						Total
Assets
Forward exchange contracts						—						3						—						3
Interest rate swaps						—						16						—						16
Total assets measured at fair value						$	—					$	19					$	—					$	19
Liabilities
Contingent purchase consideration liabilities						$	—					$	—					$	46					$	46
Commodity contracts						—						2						—						2
Forward exchange contracts						—						5						—						5
Interest rate swaps						—						96						—						96
Total liabilities measured at fair value						$	—					$	103					$	46					$	149

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-11

+ Details

Name:	us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_FairValueDisclosuresAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration